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Update: Week In Review/Forecast | #LTCUSD #Litecoin #Bitcoin

BTCE:LTCUSD   Litecoin / Dollar
774 10 3
Friends,

Last Saturday, we offered two opposite targets, one bullish , and the other bearish , suggesting that LTCUSD             first rise to hit our 23.357 bullish target, then would be declining.

We are glad to say that it did just that, by first hitting the bullish target dead on (See the trade here using TradingView.com replay feature: https://www.tradingview.com/v/NQP6aiNs/).

Immediately after that dead-on hit, price folded to test a prior structure low (18.457), then bounced to a numbing consolidation range.

The pattern trader might possibly see the nascent formation of a Bat with its A-B-C root just formed, however, the C-D leg would probably require a bullish outlook to buoy the next candles to a pattern completion. Instead, our predictive analysis remains quite bearish and making that pattern completion scenario a low probability event.


OVERALL:
Looking at the week ahead, 15.565 remains a high-probability target, as our analysis has not changed in terms of direction and forecast.

Cheers,


David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting


PS:
1 - Review about trade and its prior analysis here:
-
2 - Review our recent BTCUSD             (GOX) Week-In-Review and forecasting:
-


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Want to explore our recent successful forecasts?
- Archived here: http://bit.ly/16JMnH8
- A few examples there:
1 - #USDollar: http://on.fb.me/19Pf77y
2 - #AUDUSD: http://on.fb.me/1kDHbdB
3 - #NGAS: http://on.fb.me/1aSMYHV


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Disclaimer from Bob Lobb Law:
All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. Want to trade? Then, do your own due diligence first, seek professional advice from a licensed professional and enter the market at your own perils - 4xQuad, LLC.
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
18 AUG 2015 - FYI, Re: $LTCUSD

From Twitter/LinkedIn:
----------
$LTCUSD #litecoin fell as forecast; Broke 3.20 floor; Bears still in charge:

snapshot


$LTC $USD #bitcoin #cryptocurrency
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snapshot



David Alcindor
Reply
still believe in this?
Reply
Hi, @chimbot - Not sure I understand your question. The $15.565 target defined on January 25th from a $21.35 position has been hit.

I have not produced any new predictive analysis beyond that January forecast.

David
Reply
$15.565 here we come...
Reply
Many thanks for your wisdom.....I've been following your excellent charts and descriptions. :)
Reply
Your feedback is very much appreciated @onefix. Thank you! - David
Reply
Thanks for the update David! Your recommendations have been duely noted :)
Reply
Thank you @sunnyd76 - David
Reply
4xForecaster hi. do you still have the same $15 target? Thinking aboit getting back into ltc but not sure as a lot of cloud cover has been broken
Reply
Hello @sunnyd76 -

The 15.565 forecast remains in force, albeit with a cautionary $16.4 intermediate target.

If and when price lands at the 16.4 and does not seem to persevere any lower, then consider moving your stop-loss slightly above the 38.2-Fib mark (in fact, 2.3 of the way between the 0.382-Fib and 0.500-Fib mark), to ensure profit taking in case of such adverse price excursion.

This is all educational, and trading Forex can be detrimental to financial, marrital and professional health according to Bob Lobb Law, so trade at your own peril, right?

Hope this helps.

David
Reply
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